Economic confidence at 20-year low among Canadians: report

Canadians are feeling pretty gloomy about the economy these days, at least according to a new Ipsos poll that was commissioned by Global News.

The poll notes that only 36% of Canadians would rate the economy as “good,” the lowest it’s been since 1995, and lower than in 2009 (43%) when the recession was at its height.

Only 2% of those polled believed our economy was in “very good” standing.

Albertans, unsurprisingly, have the least confidence in the economy nationally, with only 16% saying the economy is good, and 84% saying it’s bad.

Ipsos notes that, based on historical data, it’s unusual for less than half of Canadians to have positive feelings about the economy. The last time they were recorded below 50% was from 1994 (when tracking began) through to 1996.

And Canadians seem to be feeling pessimistic about the future. While the majority of those polled – 63% – believe the economy won’t change over the next six months, 21% believe it will be weaker, as opposed to 16% who say it will be stronger. Overall sentiment varied depending on the province, of course, with 35% of Albertans saying the economy will weaken and 17% of British Columbians saying the same.

Ipsos took a sampling of 1,002 Canadians between February 19 and March 4.